ARENA backing for MGA Thermal supercharges renewable energy storage
We are thrilled to share we have been awarded funding of $1.27 million from the Federal Government’s Australian Renewable Energy Agency (ARENA) to launch our MGA Thermal Energy Storage demonstration unit.
It was announced on 10 August 2022 by the Hon Chris Bowen MP, Australian Federal Energy Minister and Ms Meryl Swanson MP, Member for Paterson, at our Head Office and Manufacturing site in Tomago, NSW.
The $1.27 million funding will help launch the creation and installation of a 5 MegaWatt hour (MWh) storage prototype to demonstrate the generation of steam from stored thermal energy.
Showcasing charging and discharging at up to 500 KiloWatts (kW), the demonstration unit will be located at the company’s facility in Tomago. With an expected budget of $2.85 million, the pilot unit will produce valuable performance data and provide a tangible demonstration of the technology for prospective customers.
“The latest round of funding underscores the critical role that MGA Thermal blocks will play in the nation’s energy transition. Solutions like ours make it possible to retrofit existing thermal power plants with renewable storage technology” says Erich Kisi, co-founder and CEO of MGA Thermal.
“If the current industry sentiment and the impacts of climate change are telling us anything, it’s that we can no longer hold off on the renewable energy transition. While conventional storage technologies like batteries play an important role, a complementary, grid-scale dispatchable energy solution is required to power a seamless transition to renewables nationally,” adds Kisi.
Darren Miller, CEO of ARENA explains, “MGA Thermal’s unique technology has enormous potential to support the uptake of renewable energy. The novel approach could make a real difference in the mid-to-long-term storage category, supporting hydrogen and pumped hydro. With potential developments for industrial heating and uses, MGA thermal will play a crucial role in decarbonising the electricity grid and heavy industry.”
With current customer interest of 20 GWh, the equivalent of powering 1.3 million homes, MGA Thermal’s solution can repurpose coal-fired and power plants with thermal storage to deliver clean baseload power, while also helping to prevent job loss from power plant closures.
